Home Reach banner

HOME REACH: Part Buy, Part Rent

What is Part Buy, Part Rent?

If buying outright isn’t an option for you, Part Buy - Part Rent with Home Reach is an alternative route to get you on the property ladder.

This is where you would buy a share of up to 75% of a home and then pay 2.75% rent on the remaining share you haven’t purchased on a monthly basis.

With this option, you can either sell or purchase more shares in the future. Once you have purchased 100% shares on your home, you will then stop paying the monthly rent.

8 Simple steps to get you in your Home Reach home

1. Register your interest

Logo Register interest tick Click on your chosen development from the list below, register your interest with us online or call our sales hotline number to speak to our Sales Consultants. You’ll also need to register with your local Help to Buy Agent. (our Sales Consultants can also help you with this)

2. Financial Assessment needs to be completed

Logo Financial Assessment Once registered, you will need to complete a financial affordability assessment with an Independent Financial Advisor to ensure you can afford the purchase cost and maintain monthly costs. (We can help you with this as we can put you in contact with an Independent Financial Advisors)

3. Choosing your home

Logo Choose home Once you have confirmation of affordability, you then can choose the home you wish to purchase (subject to availability).

4. Reserve your plot

Logo Reserve Plot On reservation, you will be able to pick your interior choices and extras to personalise your chosen home (subject to build stage and housetype). You’ll then pay the reservation fee to secure your plot.

5. Apply for a mortgage with a financial advisor

Logo Finance Advisor Now you will need to apply for your mortgage, with terms of exchange of contracts within 28 days.

6. Complete your legal documents with your chosen solicitors

Logo Legal Documents Before exchange of contracts is taken, you will need to appoint a solicitor who will carry out legal work on your behalf

7. Exchange of contracts

Logo Exchange Contracts Once all legal documents have been handed over and completed, exchange of contacts will be taken, which is where you will pay your deposits and agree a completion date.

8. Get the keys to your home!

Logo home with keys On the completion date, you will receive a call from your Sales Consultant to let you know that completion has taken place and your keys are ready to collect! Welcome to your new home!

How do you know if you are eligible?

  • If your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)
  • You have a deposit (at least 5% of the share value)
  • You are a first-time buyer or used to own a home, but cannot afford to buy 100% of the property now
  • The property will be your principle and only home
  • You have passed a Home’s England Affordability calculator, demonstrating you are financially able to purchase the share value and support the monthly costs
  • You have registered with a Help to Buy agent and been approved

Click here for more details:

DOWNLOAD THE BUYERS GUIDE
Family photo on the couch

Where can you buy with Home Reach?

We are proud to announce that the following developments have Home Reach, Part Buy – Part Rent plots. Please click on the below links to check our current availability:

Banbury Place

Banbury Place, Wolverhampton

Egstow Park

Egstow Park, Chesterfield

Hilton Valley

Hilton Valley, Hilton

Langford Mills

Langford Mills, Taunton

Locking Parklands

Locking Parklands

Victoria Park

Victoria Park, Stoke-on-Trent

Weogoran Park

Weogoran Park, Worcester

Key Facts

  • Home Reach uses a Government Standard Lease
  • Home Reach is a government backed scheme
  • Rent of the unsold share is charged at 2.75%
  • You only need a deposit of your share value
  • You have the freedom to decorate
  • You can increase level of ownership at any time
  • You have the ability to staircase to 100%
  • You have the flexibility to sell and move at any time
Ready to find your first home?